** 2020 UPDATE **
Since its appearance in the 2019 Vitality Index, Manchester has gone from strength to strength. Despite national economic uncertainty and the impact of COVID-19, businesses in Manchester have thrived and the city's population continues to grow - good news for the property values in the city which are predicted to grow by almost 25% in the next four years according to Savills.
In the recent UK Vitality Index Report, published by Lambert Smith Hampton, Manchester claimed the number 3 spot on the index as a result of the city’s entrepreneurship, productivity and speed of growth. This puts Manchester firmly ahead of many of the UK’s biggest cities on the index, including Oxford, Bristol and Cardiff.
The Vitality Index takes into account multiple factors to assess the health of local economies in the UK’s major cities and regional towns. This includes factors such as education, entrepreneurial growth, affluence, productivity and environmental impact.
Whilst Edinburgh took the top spot, Manchester scored highly for entrepreneurship, productivity and speed of growth, allowing it to retain the number 3 spot from last year. This is the product of significant business growth in Manchester, which in turn is attracting more people into the city and fueling population growth. As the city has grown in size, demand for property in Manchester has also increased with commercial and residential property rents increasing in line with this.
Across all of the rankings, Manchester is the only Northern city to make an appearance. This cements Manchester’s reputation as the capital of the ‘Northern Powerhouse’ and highlights the continuation of growth in the city over the coming years.
With Manchester continuing to top the tables and with no signs of this growth slowing down, areas across the city are standing out as prime spaces to live in and capitalise on this growth. Due to strategic decisions we have made, our Manchester developments are all located within these hotspots to make the most of the changes in the city and its continued success.
All of our Manchester developments are within a short journey of the best career, retail and leisure opportunities the city has to offer, as well as having strong projected property price rises over the next few years. Premium resident services and features mean our developments stand out as luxury places to live, with many of our developments having private terraces, rooftop gardens, swimming pools, entertainment rooms and secure parking onsite.
To find out more about our Manchester projects and how the city is taking on the UK property market, get in touch with a member of our team today.